ISEC Healthcare: Clinics' profit guarantee clause does not affect doctors' professional judgement

Catalist-listed healthcare company was responding to SGX queries on its 2019 results

Published Fri, Jun 26, 2020 · 09:50 PM

Singapore

THE profit guarantee clause in ISEC Healthcare's acquisition of four JL Medical clinics does not affect the way their doctors practise medicine and treat patients, the company said on Friday.

ISEC's board was responding to recent questions posed by the Singapore Exchange on its 2019 results in relation to the profit guarantee, including a query on whether its acquisition of the clinics could influence, or be seen to influence, doctors' professional judgement in light of the gurarantee.

Earlier in April, ISEC reported the results of the JL Medical group of companies, which included a S$63,431 shortfall in the annual profit after tax for one clinic, JL Medical (Sembawang…